Occudo Quantitative Strategies LP Takes Position in Transocean Ltd. (NYSE:RIG)

Occudo Quantitative Strategies LP purchased a new stake in Transocean Ltd. (NYSE:RIG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 147,445 shares of the offshore drilling services provider's stock, valued at approximately $553,000.

Other hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. increased its position in shares of Transocean by 53.6% during the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after buying an additional 2,933 shares during the period. Ballentine Partners LLC boosted its position in shares of Transocean by 19.4% during the 4th quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider's stock valued at $68,000 after purchasing an additional 2,963 shares in the last quarter. Van Den Berg Management I Inc. grew its stake in Transocean by 11.9% during the fourth quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider's stock worth $106,000 after purchasing an additional 3,000 shares during the period. Pallas Capital Advisors LLC lifted its stake in Transocean by 25.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock valued at $57,000 after buying an additional 3,127 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Transocean by 23.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 19,015 shares of the offshore drilling services provider's stock valued at $71,000 after purchasing an additional 3,620 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on RIG shares. BTIG Research set a $5.00 target price on Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. Morgan Stanley decreased their price objective on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a report on Friday. Barclays cut their target price on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a report on Monday, April 7th. SEB Equity Research set a $2.80 price target on shares of Transocean in a research note on Wednesday, March 5th. Finally, Citigroup dropped their price objective on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.58.

Transocean Stock Down 1.7%

Shares of RIG stock traded down $0.05 on Tuesday, hitting $2.55. The stock had a trading volume of 7,110,540 shares, compared to its average volume of 36,554,438. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The business has a 50 day moving average of $2.60 and a 200 day moving average of $3.40. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -3.49, a price-to-earnings-growth ratio of 0.86 and a beta of 2.52.

Transocean (NYSE:RIG - Get Free Report) last announced its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $906.00 million for the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company's revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. As a group, analysts expect that Transocean Ltd. will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Monday, May 12th. The stock was sold at an average price of $2.78, for a total transaction of $61,160.00. Following the sale, the executive vice president now directly owns 340,841 shares in the company, valued at $947,537.98. The trade was a 6.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.27% of the company's stock.

Transocean Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.